CNN Money Reports

Two weeks of gains

Markets manage second 'up' week on bets that war is delayed; next week heavy on economic data.February 21, 2003: 8:03 PM EST

NEW YORK (CNN/Money) - U.S. stocks managed to close higher for the second week in a row on gains Friday, as investors bet that a U.S.-led military attack on Iraq is still a few weeks away. But next week's market may not be so lucky.

Although few analysts expect any Iraq resolution in the next few weeks, market participants will have plenty of other issues to keep them distracted.

Next week is again heavy on economic reports. Existing home sales and consumer confidence data are both due Tuesday. Thursday brings reports on durable goods orders and new home sales. Friday is a doozy: reports are due on preliminary fourth-quarter gross domestic product, the revision of the University of Michigan's consumer sentiment index, and regional manufacturing activity.